Magnetic Refrigeration Market Growing at 98.7% CAGR to 2022

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The magnetic refrigeration technology is expected to be commercialized by 2016 says new research report at RnRMarketResearch.com

Market Research Reports

Magnetic Refrigeration Market is expected to reach USD 315.7million by 2022,at an estimated CAGR of 98.7% between 2017 and 2022

Pune (PRWEB)August 28, 2015

The magnetic refrigeration technology is expected to be commercialized by 2016. It is likely to emerge as a viable alternative for refrigerants which are ozone depleting and have a high global warming potential.This technology is expected to be commercialized first for commercial applications due to which the latter is expected to dominate the Magnetic Refrigeration Market. Industrial is another application after commercial that is expected to hold a major share as magnetic refrigeration is expected to be increasingly adopted in refrigerators, cabinet displays, freezers, beverage coolers, and ice-cream cabinets.

Industrial is one application where magnetic refrigeration is expected to grow significantly wherein,food & beverage processing & storage is expected to be major market for magnetic refrigeration in the industrial sector. Due to the ban on the use of refrigerants with a high GWP in the industrial sector,there is an increasing demand for an alternative which is environment-friendly and also has a long lifetime. Any ban or phase-out of refrigerants has the highest impact on the industrial segment as it consumes the largest amount of refrigerants than the other segments.
Order a copy of this report at http://www.rnrmarketresearch.com/contacts/purchase?rname=403098

Magnetic refrigeration market report includes the magnetic refrigeration market size and forecast from 2016 to 2022. The studied market is expected to reach USD 315.7millionby 2022,at an estimated CAGR of 98.7% between 2017 and 2022.

The report covers the magnetic refrigeration market segmented based on application into domestic, commercial, transportation, and industrial. The report talks about the premium insights; different drivers, restraints, opportunities, and challenges that are likely to shape the magnetic refrigeration market along with the competitive landscape and company profiling of the top players. The players involved in the magnetic refrigeration market include Cool tech Applications (France), Camfridge Ltd (U.K.), Astronautics Corporation of America (U.S), Whirlpool Corporation (U.S.), General Electric CO. (U.S.), Qingdao Haier Co., Ltd (China), BASF SE (Germany), Eramet SA (France), Sigma-Aldrich Corporation (U.S.), Samsung Electronics Co. Ltd. (South Korea), and Toshiba Corporation (Japan). This is a premium research report priced at US$ 4650 for single user PDF license. Inquire for discount on this research at http://www.rnrmarketresearch.com/contacts/discount?rname=403098 .

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